GM created a new energy business to sell batteries and solar panels in bid to dethrone Tesla

GM Energy will sell EV chargers, external batteries, and other accessories for its electric vehicle owners.General Motors is creating a new energy business to sell batteries, charging equipment, solar panels, and software to residential and commercial customers in a broad-based effort to create a range of accessories that can help sell its lineup of electric vehicles.

Travis Hester, GM’s chief EV officer, said the company is making a serious grab for a piece of what is potentially a $120-150 billion market for energy generation and storage products. The aim is to make GM’s brand synonymous with not just electric vehicles, but a whole host of products and services in orbit around EVs and their rechargeable lithium-ion batteries.

GM Energy will be comprised of three units: Ultium Home, Ultium Commercial, and Ultium Charge 360, which is the company’s EV charging program. The division will sell a range of products to residential and commercial customers, including bi-directional charging equipment, vehicle-to- home and vehicle-to-grid equipment, stationary storage, solar products, software applications, cloud management tools, microgrid solutions, and hydrogen fuel cells.

Competition is good, right? 😉

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German companies look at offshore production as energy prices rocketGermany's 200 billion euro ($197 billion) energy aid package will provide limited relief for businesses and is unlikely to dissuade companies that are already looking to relocate to cheaper manufacturing bases overseas. Giving cash won't help if there simply isn't enough energy to buy. How much form that package will go to US for its so-called freedom gas? If Germany business has financial difficulties, imagine how bad it is in Spain Greece Portugal and many other countries.
Source: Reuters - 🏆 2. / 97 Read more »